NZD/USD Daily: Bounced back above Pivot level and Ichimoku cloud. Upside Prevails
Trading Idea: Above second pivot level of 0.76 look for further upsides towards 0.77
Technical reasons why: After reaching our bearish target of 0.7350, the New Zealand dollar – US dollar pair was supported by a rising flag and bounced back up. Confirmed above the Ichimoku cloud and our first turning point of 0.76 at 23% Fibonacci, we could see further upside towards 0.77
Suggested stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7300 | 0.7460 | 0.7700 |
| 0.7238 | 0.7600 | 0.7831 |
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